THE PETER SCHIFF BLOG : An Unofficial Tracking of Peter Schiff and The Libertarian Austrian School of Economics

PETER SCHIFF

Thursday, December 29, 2011

Peter Schiff : Our Economy grew more on a Gold Standard

Gold Standard Explained by Peter Schiff : Peter Schiff explains the fact that the interest rate is a price and that manipulation of that price results in real changes to the capital structure and structure of production within the economy, causing imbalances, booms, and eventually busts in the economy. His lecture also explores how government intervention through labor and employment policies results in diminished employment and an overall reduction in the standard of living.Austrian Economists are the only ones that make﻿ sense. The US and the world were hijacked by Keynesian statists at the beginning of the 20th century. The free market has been blamed for our current ills, when in fact it's the state and central planners at fault. It's time for people to take the power back in the 21st century!

To prepare, the average person who has no money to invest elsewhere, can stock up on food. Food is a commodity just like gold or any other comodity. If you have thirty jars of peanut butter you bought for 3 dollars each,﻿ and the dollar drops to the point a jar of peanut butter is thirty dollars, if it is even on the shelves, you will be able to focus on rent or energy because you already have food. You cannot lose unless food prices go down or the food spoils. It is security for marginal income.

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.